Wednesday, September 30, 2015

Mountain Province Diamonds - MPV.t

Mountain Province Diamonds - MPV.t is a Canadian diamond exploration and development company headquartered in Toronto, Ontario.

In joint venture with De Beers, Mountain Province is developing the world's largest and richest new diamond mine—the Gahcho Kué Project, located in Canada's Northwest Territories.

On July 7, 2015 the company released News

"Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPV, NASDAQ: MDM) is pleased to announce that development of the Gahcho Kué diamond mine is progressing according to plan and budget with the overall project approximately 62 percent complete at the end of May, 2015. Key areas of focus are continued dewatering to expose the kimberlites, the placement of concrete foundations and the erection of steel superstructures of the major facilities.

A key milestone is to ensure that the process plant building is enclosed by October 2015. Patrick Evans, Mountain Province President and CEO, commented: “We’re on track for first production in H2 2016 and are currently making arrangements to be in a position to receive and sell our 49 percent share of diamond production. These arrangements are expected to be in place by the end of 2015.”

There are currently approximately 500 employees and contractors on site at Gahcho Kué and this number is expected to peak at approximately 650 during the third quarter of 2015. During production there will be approximately 400 employees at Gahcho Kué. The project Operator, De Beers Canada, maintains a strong focus on a robust safety record with fifteen consecutive months without a lost-time injury.